Judge it!What does koolaid have anything to do with this? And what do you mean by 'your' numbers? You are arrogant and sarcastic.Real Estate Optimist: You are a nut case. There are 27,000 listings in the Orlando MLS and approxmately 900 deals are closing per month. This is a 2.5 year supply.
Go ahead and dispute my numbers.
Condos on the east coast have a 5 year supply. What flavor koolaid are you drinking.
20% of the homes for sale in this country are either in some stage of foreclosure process or have negative equity.
The ONLY sales taking place are bank foreclosures and short sales.
The realtors are the same group that got us into this mess and you expect people to take your propaganda seriously? Get a life.
Housing
Home values keep sinking
- Posted in the Housing Forum
Comments (Page 2)
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SW Volusia, an area of nearly 200,000 residents has one of the highest home vacancy rates in the state. Last month, depending on which list you look at, 14 or 17 home sales were closed.
With bargains galore, there are few buyers in sight. |
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We will know the bottom only after we get there and come out of the dive. I have been appraising in this market for 30 years and I am seeing some activity but not alot. We have a huge inventory to burn through and we do not have the people to do it. Wages too low and job contraction will draw this out for many many years.
Time to just get used to it and make the most if it. We are a community and we will make it out of this one just as we have the other turns in the market. Granted this is the Grand Puhbah of downturns but we will learn from it, at least for awhile. Cutting back on some of the frivolities is a good thing. Imposed discipline all around. |
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My two cents: the housing market will continue to tank until the banks loosen their hold on loans. I am in the market for a house, have very good credit, and a 10% down payment. I would like a house in the 100k-125k range (or a condo). I can't get a loan. The banks have tightened thier grip to the point where the average person will be unable to buy simply because they can't come up with 100k of their own money.
When fixed rate loans become available for the average Joe or Jane and the average person can take advantage of all the interest rate cuts the Fed has done, the housing market will turn around. |
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Orlando is still in the toilet.
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Good morning Coffee and Gearbox Bloggers. We should just kill ourselves now and get it over with, right Kool-Aid!? Who needs TV when I've got you freaks to read. Thanks for the laughs :) Keep Up the Colorful Postings. I particularly love the dude from Cincy... Your State Sucks, Your Sports Suck and you're talking trash about Florida. Name one international buyer in Cincy.
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How Would You Know? Taraves is a dump that swirls around the toilet.
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I say $75,000 is were they should be.
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Exactly. There are a ton of homes still on the market. My boyfriend has been looking for 5 months now and have seen countless homes that have been on the market for 250+ days--and these aren't for sale by owner, these are short sales and foreclosures. Even they aren't selling out, let alone selling as soon as they come on the market. The only ones that have sold right away that we have seen (and we know from putting offers or from looking at them too late) are the ones priced significantly below what the other homes in the area are listed at (which is probably closer to the real price). For example, a home in a $200,000 + neighborhood priced at $150,000 sold within two weeks. A house down the street listed at $225,000 has been on the market for nearly a year and is a short sale. I may not be a realtor, but I have been working with one for the five months we have been working and I work in a law firm that handles real estate closings. Because we have a guy auctioning off condos to the highest bidder, we haven't seen a decrease in closings, but we also have not seen them pick up (despite our realtors telling us they are whenever we see them come in for a closing). I don't think we have hit bottom yet. We might start seeing the drop not be as severe, but with so many homes on the market and not enough buyers, we will still be behind for quite some time. |
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Orlando, the new Detroit!
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Of course you're a real estate optimist... your livelyhood depends on it... |
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I think it's a reference to Jim Jones, a cult leader, who made his followers drink a grape Kool-Aid like drink that was laced with poison to kill everyone. A realtor is a member of the NAR, a cult like organization, which is notorious for feeding misleading info to its followers (realtors) to spread to the rest of us. |
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this article is based on ZILLOW.
and ZILLOW has been proven to be 68% INNACURATE. the further you are from a major city the less accurate it is. ZILLOW DOES NOT GO BY COMPS, they go by some wacky computer system. use realestate abc or realtor.com if you want actual comps. |
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short sales are scams... and foreclosures you need atleast 20-50K of work after you buy them. so that is why those sit on the market. |
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"Area Median value \ 3-mo. chg. 12-mo. chg. Windermere $477,811\-6.1%-19.5% Orlando $198,975\-6.0%-17.6% Winter Park $220,632\-5.6%-16.0% Ocoee $209,804\-5.2%-20.6% Winter Springs $229,371\-4.6%-15.3%"
Orlando cannot support those property prices. Our unilateral economy based on mice and movie studios does not provide respectable wages. Oh! A 1000 jobs in Lake Nona for the medical field is going to do jack $#it for the economy with the exception of having that area's Publix packed every afternoon after 5 o'clock. |
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What has all this house price drop done to property taxes? Have towns/cities adjusted their "appraised values"? Have property taxes dropped at all? What's the future for property taxes decreases?
What about lower insurance values/ premiums? Have the insurance companies dropped "their appraisals" and resulting premiums? Any action going on in that area? |
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Thats it at 201,000 ona 30 year loan your talking about 2,000 a month or more on 35,000 or 40,000 a year pay there is no way to pay that monthly nut. And the truth is those are not luxury homes we are talking 3/2 s on a 1/8 a acre if they are lucky in my opinion thats worth more lik 150,000 to 180,000 not anywhere near 200,000. Fell sorry for those who overpaid but thast what they did and until they come around and lower the price its not going to sell. |
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The future has a big increase in spanish people they love florida.Florida will do better than the northeast.
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You're right on the money!!! These are the same scumbag spin doctors... Just listining to these crooks 3 months ago would have been a disaster for the average buyer...
The only time to buy a house is when buying it is less expensive than renting it... It's still the tip of the iceberg.
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Why don't they keep the house. They either:
1. Bought more than they could afford 2. are investors and need to get rid of the house. Most of the people that are being foreclosed got a house bigger than they could afford, they put little or no down payment. The only money that they are going to lose is the "fictional" money they were going to make from the sale. Their credit score is going to take a hit and that is about it. Some people is going to lose the money they put as a down payment, I am sorry for them. Investors: they tried to profit from the market and lost, welcome to capitalism. If you are an amateur and lost your savings doing it, next time do your homework |
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